Ever since mortgage rates of interest jumped in 2022, some Californians have had a method: Purchase now and, as soon as charges drop, refinance to save lots of lots of of {dollars} every month.
The thought — pushed by some actual property brokers — was presupposed to be a trade-off. The client may choose up a house in a slower market, and although curiosity prices can be excessive, they wouldn’t keep that approach.
The technique should still work, however to this point, excessive borrowing prices are right here to remain. In current weeks, charges have climbed larger, surpassing 7% for the primary time since final yr.
When you purchased a house with this technique, The Occasions wish to communicate with you about the way it has labored out.
